Zuora Powers the Launch of Mobility-As-a-Service Company Backed by SoftBank and Top Automotive Leaders including Toyota, Hino, Honda, Isuzu, Suzuki, Subaru, Daihatsu and Mazda
San Mateo, Calif — January 29, 2020 — Zuora, Inc., (NYSE:ZUO) the leading cloud-based subscription management platform provider, announced today that MONET Technologies Inc. (“MONET”), a joint venture launched by SoftBank Corp, Toyota Motor Corporation and other automotive leaders, selected the Zuora® Central Platform to launch and scale its mobility-as-a-service platform in Japan in 2020.
Consumers are increasingly demanding internet connected technologies to improve the traditional driving experience. As a result, the global connected car market is expected to reach $212.7 billion by 2027, according to Markets and Markets. Aiming to create new value for consumers, MONET was founded to develop and deploy mobility services utilizing self-driving vehicles in Japan.
“Datasets are essential to build a mobility-as-a-service platform with autonomous vehicles,” according to MONET. The use of the Zuora platform will enable MONET to have real-time insight into subscriber usage and to benefit the future autonomous driving society in Japan.
The Zuora platform’s reliable scalability and flexible pricing packages will allow MONET to combine one time, recurring, and usage-based pricing models, and apply various billing frequencies to create new offerings. The company could also generate percentage or fixed amount discount codes, enable code redemption, and set effective dates and time limits. With an enormous amount of transactions, MONET could flexibly deal with a wide variety of payment methods on the Zuora platform.
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-cash process, including billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Rogers, Schneider Electric, Xplornet and Zendesk. Headquartered in the Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
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SOURCE: Zuora Financial
This press release contains forward-looking statements that involve a number of risks, uncertainties and assumptions, including but not limited to statements regarding the expected growth and trends in the global automotive and connected car sectors, consumer buying trend expectations, the expected growth and trends in the market for subscription businesses, and the expected benefits of any such trends. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, and actual results could differ materially from those stated or implied in forward-looking statements. This press release also includes market data and certain other statistical information and estimates from industry analysts and/or market research firms. Zuora believes these third party reports to be reputable, but has not independently verified the underlying data sources, methodologies or assumptions. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information.